Should You Give Ransom Money to Cyber Criminals?

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Have you had your computer or company website completely taken over by a hacker? If so, then you might receive a ransom note demanding payment of a certain amount to get your files back.

While the best bet is to not give in to their demands, your company might be losing revenue with each passing minute. So is it ever ok to pay up?

Keep reading for all the important details on receiving ransom money and what to do.

Analyzing Ransomware Attack Tactics

Analyzing ransomware attack tactics is essential for organizations to identify the risk of becoming victims of ransomware attacks. It is important to evaluate risk factors, including malicious code used in the attack, the potential for maximum damage to an organization, and the likelihood of a successful recovery process.

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Organizations should also consider whether or not to give ransom money to cyber criminals. Each organization should weigh the potential rewards and risks of ransom payments, as paying ransom may encourage cyber criminals to target that organization or others further. It is possible, however, that by offering a monetary incentive, criminal activity could be avoided.

Preparing for Ransom Payments

Preparing for ransom payments is essential if you find yourself, your business, or your organization being targeted by cybercriminals looking to exploit your data. It is important to build a plan before you ever have to face these criminals. Prepare your response for worst-case scenarios.

However, when and if you are faced with a ransomware attack, giving ransom money to cyber criminals may be the only option. This money should be readily available and easily transferable.

The main warning here, though, is not to pay the money until you have a guarantee of the safe return of your data. Ransom payments have, at times, been known not to bring back the data.

Making the Ransom Payment Securely

Making the ransom payment securely to a cybercriminal is the key to receiving a successful resolution to the cyber attack. The payment will need to be sent through a secure and private channel, such as a cryptocurrency.

It is important not to use a conventional banking system, as this increases the chances of the money being traced back to the source. Furthermore, checking for the latest scams may be a worthwhile exercise.

Finally, be sure to keep a record of the transaction to use as evidence, if necessary, should the criminals issue further demands.

Managing the Aftermath of the Ransom Payment

Managing the aftermath of a ransom payment can be challenging. After payment of ransom is made to cyber criminals, organizations face the difficult task of restoring normalcy in the aftermath.

There is the risk that cybercriminals will ignore their demands and keep the money. Therefore, organizations must be prepared to respond if the ransom is not returned. Organizations may need to continue to back up their data using Ransomware Protection until the situation has been resolved.

Learn More About Ransom Money

Ultimately, it is your decision to give ransom money to cyber criminals. However, it is essential to first weigh the risks and rewards and make an educated decision that will not put you at further risk in the future.

It is recommended to speak with a security professional for further advice and guidance.